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AFC Energy PLC (AIM:AFC, OTC:AFGYF) CEOAdam Bond speaks to Thomas Warner from Proactive after the hydrogenfuel cell technology provider signed an exclusive distribution dealfor Saudi Arabia with The Machinery Group (TAMGO), an approvedsupplier to many of the country’s infrastructure and miningprojects.
Through the agreement,TAMGO will market and sell or lease to end-customers AFC Energy'szero-emission hydrogen-fueled H-Power Generators in the kingdom and afurther 16 countries in the MENA (Middle East North Africa)region.
Bond explains that the dealhas been in the making for three years and encompasses 17 countries inMENA region, positioning AFC Energy to become a prominent regionalprovider of fuel cell generators. He says that the Middle Easternoff-grid power market is projected to reach $2.6 billion by 2030,driven by the lack of grid coverage and the push for decarbonisation,especially in large projects like NEOM in Saudi Arabia.
Bondnotes that AFC Energy is likely the first to strike such a deal with apartner of Tango's standing, and could lead to localisedmanufacturing and access to a significant customer base, includingSaudi Aramco. Bond also highlights the company's recent progressin fuel cell and ammonia cracking technologies, with promising resultsand a growing order pipeline.
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